Measuring capital in the new economy / edited by Carol Corrado, John Haltiwanger, and Daniel Sichel.

Format:

Book

Contributor:

Corrado, Carol.

Haltiwanger, John C.

Sichel, Daniel E.

Conference on Research in Income and Wealth.

Series:

Studies in income and wealth ; v. 65.

Studies in income and wealth ; v. 65

Language:

English

Subjects (All):

Capital--Statistical methods.

Capital.

Capital investments--Statistical methods.

Capital investments.

Capital productivity--Statistical methods.

Capital productivity.

Physical Description:

1 online resource (602 p.)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, c2005.

Language Note:

English

Summary:

As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.

Contents:

Frontmatter

Contents

Preface

Introduction

1. Measuring Capital and Technology: An Expanded Framework

2. A New Approach to the Valuation of Intangible Capital

3. The Valuation of Organization Capital

4. Intangible Risk

5. The Relation among Human Capital, Productivity, and Market Value: Building Up from Micro Evidence

6. Measuring Organizational Capital in the New Economy

7. Pharmaceutical Knowledge-Capital Accumulation and Longevity

8. R&D in the National Income and Product Accounts: A First Look at Its Effect on GDP

9. Communications Equipment: What Has Happened to Prices?

10. Information-Processing Equipment and Software in the National Accounts

11. Growth of U.S. Industries and Investments in Information Technology and Higher Education

12. Issues in the Measurement of Capital Services, Depreciation, Asset Price Changes, and Interest Rates

Remarks

Contributors

Author Index

Subject Index

Notes:

Papers presented at a conference at the Federal Reserve Board in Washington, D.C, held in Apr. 2002 by the Conference on Research in Income and Wealth of the National Bureau of Economic Research.

Includes bibliographical references and indexes.

ISBN:

9786612004810

9781282004818

1282004816

9780226116174

0226116174

OCLC:

313200847